3 Stocks Under $10 Making Big Moves

DELAFIELD, Wis. (Stockpickr) -- As part of your daily routine as an active trader or investor, it's important to track the stocks in the market that are making the biggest percentage gains and the biggest percentage losses.

Stocks that are making large moves to the upside are favorites among short-term traders who want to capture some of that massive volatility. Stocks that are making big-percentage moves are usually in play because their sector is becoming attractive or they have a major fundamental catalyst such as a recent earnings release. Sometimes stocks making big moves have been hit with an analyst upgrade or an analyst downgrade.

Regardless of the reason behind it, when a stock makes a large-percentage move, it is often just the start of a new major trend -- a trend that can lead to huge profits. If you time your trade correctly, combining with fundamental trends, discipline and sound money management, you will be well on your way to investment success.

With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside.

CorMedix

CorMedix  (CRMD), a pharmaceutical company, intends to in-license, develop, and commercialize therapeutic products for the prevention and treatment of cardiac, renal, and infectious diseases. This stock is trading up 8.3% to $3.50 in Thursday's trading session.

  • Thursday's Range: $3.20-$3.50
  • 52-Week Range: $1.25-$10.40
  • Thursday's Volume: 202,000
  • Three-Month Average Volume: 879,303

From a technical perspective, CorMedix is soaring higher here and displaying relative strength versus the overall market weakness as it spikes right above some key near-term overhead resistance levels at $3.12 to $3.08 with lighter-than-average volume. This stock has been downtrending badly over the last four months, with shares plunging lower from its high of $10.40 to its recent low of $3.08. During that downtrend, shares of CorMedix have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of CorMedix are now showing some strength as the stock starts to trend within range of triggering a major breakout trade. That trade will trigger if this stock manages to clear some key near-term overhead resistance levels at its 20-day moving average of $3.60 to more resistance at $3.76 with high volume.

Traders should now look for long-biased trades in CorMedix as long as it's trending above some key near-term support levels at $3.12 to $3.08 and then once it sustains a move or close above those breakout levels with volume that hits near or above 879,303 shares. If that breakout develops soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $4.31 to its 200-day moving average of $4.42, or even its 50-day moving average of $4.70 to $5 a share.

Ohr Pharmaceutical

Ohr Pharmaceutical  (OHRP), a pharmaceutical company, focuses on the development of novel therapeutics and delivery technologies for the treatment of ocular disease. This stock is trading up3.6% to $3.18 in Thursday's trading session.

  • Thursday's Range: $2.82-$3.19
  • 52-Week Range: $2.02-$12.31
  • Thursday's Volume: 477,000
  • Three-Month Average Volume: 1.99 million

From a technical perspective, Ohr Pharmaceutical is trending notably higher here right above some key near-term support levels at $2.88 to its 50-day moving average of $2.80 with lighter-than-average volume. This spike to the upside on Thursday has now started to push shares of Ohr Pharmaceuticals back above its 20-day moving average of $3.05, and it's now moving the stock within range of triggering a near-term breakout trade. That breakout will trigger if this stock manages to take out some key near-term overhead resistance levels at $3.26 to $3.62 with high volume.

Traders should now look for long-biased trades in Ohr Pharmaceutical as long as it's trending above some key near-term support levels at $2.88 or above its 50-day at $2.80 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.99 million shares. If that breakout materializes soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $4 to $4.34 a share.

Sizmek

Sizmek  (SZMK) operates an online ad campaign management and distribution platform that provides online advertising services worldwide. This stock is trading up 2.8% to $7.72 in Thursday's trading session.

  • Thursday's Range: $7.50-$7.76
  • 52-Week Range: $4.85-$9.93
  • Thursday's Volume: 28,000
  • Three-Month Average Volume: 129,387

From a technical perspective, Sizmek is trending notably higher here and breaking out above some near-term overhead resistance at $7.65 with lighter-than-average volume. This bounce to the upside on Thursday is now starting to push shares of Sizmek within range of triggering another key breakout trade. That breakout will trigger if this stock manages to clear some near-term overhead resistance levels at $7.78 to $7.80 and then above $7.83 with high volume.

Traders should now look for long-biased trades in Sizmek as long as it's trending above its 50-day moving average of $7.18 and then once it sustains a move or close above those breakout levels with volume that hits near or above 129,387 shares. If that breakout takes hold soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $8.24 to $8.47, or even its 52-week high of $9.83 a share.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

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